In this blog series we briefly cover seven trends that impact your Identity and Access management strategy. In this part we cover the Increase in risks of data loss and insider attacks and how you can prevent this from happening to your organization with a proper IAM strategy. 

We’re almost near the 3rd quarter of 2020 and it has been a crazy year so far. With a global COVID-19 pandemic spreading like wildfire at the start of the second quarter of the year, which still hasn’t been properly contained since. Speaking of wild-fires, what about Australia, that lost huge amounts of wild life, forests and even homes due to bushfires at the start of the year. This sure is a year that will go into the books as black page.

With all this terrible news going around, there seems to be some good news in terms of cyber security. As the number of publicly reported data breaches in Q1 of 2020 have gone down by 58% in comparison to Q1 of 2019. This seems like good news, however this doesn’t seem to be accurate. There has been a lack in reporting on data breaches due to reporting disruptions caused by COVID-19 and the unusual high number of reported data breaches in Q1 of 2019 show a distorted image.

What a lot of people don’t know, is that the number of cyber-crime related incidents has actually sky rocketed in the beginning of 2020. Not only consumers were targeted when they were doing their online shopping during lockdown. Also a large number of companies were hit, whether they are active in social media, telecoms, software, healthcare or even food delivery services. Apparently cyber criminals were perfectly equipped to “work” from home like the rest of us…

According to researchers, the number of records exposed during Q1 of 2020 peaked to 8.4 billion records. Which comes down to an increase of 273% when compared to Q1 of 2019. Approximately 70% of the reported breaches were caused by unauthorized access to services or systems. How can you prevent unauthorized access to your company data and how can you take this up in you IAM strategy?

There are a couple of key steps you can take to minimise the risk of your data being stolen:

  • Change passwords regularly and don’t use the same password for all the applications and services you use. Also make sure you use strong passwords and enforce this with policies within your company.
  • Keep your software up to date and evaluate if legacy systems still comply with the current security standards and replace them is necessary.
  • Create awareness on phishing within your company and make sure that suspicious e-mails or messages are reported to your security department.
  • Never share usernames and passwords among colleagues. Especially when it concerns privileged accounts, which are the holy grail for cyber criminals. Implementing a PAM solution for your privileged accounts is highly recommended.
  • Implement an Identity and access management solution so you can centrally manage the digital identities of your employees and make sure they have the right access to the right resources.
  • Recertify applications and accounts to make sure they are still required and are still being used by the right users.

These are just a few key measures you can take to keep your data safe. Would you like to know more about IAM or PAM and what AspisID and One Identity can do for your organization? Contact us on info@aspisid.com !

Simon Voorbij

Simon Voorbij
Business Consultant